$5M PLACEMENT FOR BRIGHTSTAR’S GROWTH

Key Investments and Project Momentum

Brightstar Resources (ASX:BTR) has successfully secured A$5 million through a Share Placement priced at $0.011 per share. This financial infusion, supported notably by Collins St Asset Management Pty Ltd and a U.S. family office (which expanded its shareholding with a $3.5 million commitment), is set to accelerate Brightstar’s exploration initiatives and advance the Pre-Feasibility Study for the Menzies & Laverton Gold Projects.

The strategic Placement not only bolsters Brightstar’s exploration activities but also allows the acquisition of essential mine site equipment and infrastructure at substantially reduced costs, resulting in considerable capital and operational savings compared to earlier estimates in the September Scoping Study.

Key uses of the funds include:

  • Greenfield exploration across both the Menzies and Laverton Gold Projects, with an anticipated resource update in the first half of 2024.
  • Infill and extensional drilling within Brightstar’s extensive +1Moz Au portfolio, moving the deposits closer to production through detailed mining studies.
  • Completion of the Pre-Feasibility Study for the resumption of mining operations.

Looking ahead to 2024, Brightstar anticipates significant value drivers, including revenue from the Selkirk joint venture’s gold production, continuous exploration results, an upgraded resource estimate, the completion of the Pre-Feasibility Study, and the potential initiation of production from its extensive +1Moz Au Mineral Resource inventory.

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